Opening Hours

3 Branches in Killarney, Kenmare & Cahersiveen.

Killarney open 6 days p/w Mon - Fri 10a.m. - 4p.m., Sat 10a.m. - 2p.m. Cahersiveen 5 days p/w Mon -Fri 10a.m. - 4p.m. Kenmare 4 days p/w Mon, Tues, Thurs & Fri 10.30a.m. - 3.30p.m.

Available outside these normal branch hours by appointment to facilitate members. Saturday mornings offer convenience and flexibility.

Website/Online Access & Phone App

We have a website detailing all products and services available at KCU. Full online access functionality allowing access for members to their accounts, transfer facilities, loan application and drawdown, statements etc. Phone App offering even more flexibility and access to services anywhere at any time.

Since Covid 19 our online service usage and provision has hugely increased. Website, Online access and Phone App are three very important inbound and outbound business channels for KCU.

Presence

In branch personal service available to members. Friendly professional member service representatives always available to help.

Members like coming into our branches and welcome and benefit from face to face transactions. Our online services are increasing in usage and these figures demonstrate that KCU is offering choice to our members to suit their needs and how they wish to access their credit union.

Loans

Loans are one of the core business products provided by KCU. It can often be one of the main reasons that someone joins KCU. One of KCU's goals is to be our members first choice for all their financial services needs. €23,727,969 paid out in 2,735 loans in the last financial year. €48.7 million on loan book to local community

An increase of 14.7% in the loan book demonstrates the level of interest and value in our product offerings and also our presence within the community.

Current Account

Current Account provided by KCU, gives a real choice for day-to-day financial needs. Current Account is a full service current account. It is more local, more trustworthy, and has our commitment to a sensible approach to money.

With low and transparent fees, it is more of what members expect from their local credit union. With monthly fee's as low as €4 p/m it is currently one of the most competitive current accounts on the market. This service it free to Students and OAP's.

Financial Planning

KCU is partnered with Irish Life Financial Services to help KCU members to build better futures, be better planned and better protected.

Members of KCU can avail of a Free Financial Review. This will enable members to get advice on pensions, protection, savings and investments.

Bureau de Change

We offer members a Foreign Exchange service in all three branches. This service is available through Fexco Ireland allowing us to buy and sell most foreign currencies.

This service is available free of charge to members

Training

Training available for volunteers and staff. Regulatory training provided.

Training is regularly provided and regularly available. Mandatory training in Anti Money Laundering, Data Protection, and is undertaken annually.

ECCU Loan Protection

Loan Protection is a unique service offering only provided by credit unions.

The loan protection is designed to repay the remaining loan balance on the death of an eligible member.

The claim payments received by the credit union demonstrate the tangible benefits that will help alleviate the financial burden on the next of kin of the deceased member at this difficult time.

Amount paid out €153,132

This service unique to credit unions is designed to provide a valuable service to members, by protecting eligible members when they borrow with the credit union. They do this by paying a benefit in the event of the death of a member. Terms and conditions apply.

ECCU Life Savings

The Life Savings is designed to pay an additional savings benefit on top of a deceased member existing savings, to person/ persons nominated by the member. The service is provided at no additional direct cost to members. These valuable services reward members for their active support and membership of their credit union. They are a valuable member service that can provide peace of mind for members when they save with their credit union.

Amount paid out €167,759

Your credit union does this because it exists to provide services and benefits to its members. This service is provided at no additional cost to members. Other financial institutions charge extra for this service.

Irish Life

FREE Financial Review

Irish Life Financial Services is an insurance intermediary that can review a members protection, retirement, savings and investment needs. They offer a Free full financial review with one of their Qualified Financial Advisers to members of KCU

Finding the answers to these questions can be daunting. Financial planning helps to give members peace of mind and helps take care of the things that matter.

Competitive Loan Rates

KCU offers various loan products at competitive terms, rates and conditions. KCU offers loans with rates from as little as 4.79%.

Life's constant changes demand that members have financial flexibility, and there's no easier way to get that flexibility than with Killarney Credit Union. Our low cost loans are designed to be flexible and competitive.

Access to Low Value Loans

We offer small loans to our members beginning in value from €100. In the last financial year there was 886 loans paid out, with values ranging from €100 to €2,000, with the cumulative total being €1,085,257. This represents 32% of the number of our loans paid out this year.

Whilst we offer Personal Micro Credit Loans - “ It Makes Sense Loan” aimed primarily at members in receipt of social welfare the take up on this product is small. Members generally choose our Personal or One Year Loan products. These members may typically be a target loan shark/ money lenders market who charge exorbitant rates for access to credit. Other financial institutions may turn these loan types away as they are too small.

SME Commercial Lending

We lend to local businesses. At the end of this financial year there was €1.9 million paid out to businesses in our common bond. This figure is inclusive of Cultivate Loans.

There is a very positive impact for the credit union in providing access to affordable credit for local businesses, supporting the community. We are here to help, members and their businesses.

Cultivate Farm Finance

Cultivate is a collaboration of Credit Unions throughout Ireland to provide quick and easy access to farm finance. It provides short and medium term loans designed to meet the needs of the farming community.

KCU is delighted to be a part of this collaboration and has paid out €800,000 in loans to farmers in our common bond up to the 30.09.23.

Mortgage Lending

You can borrow locally and securely from KCU. Individual members or connected member accounts can apply for up to €150,000. Maximum Loan to Value 80%. 90% Finance available to First Time Buyers.

As with other product offerings with KCU, our mortgage product offers access to members that might not qualify in other financial institutions. Up to the 30.09.23 there was €5 million on the loan book given out to members for mortgages.

Green Loans

In order to support the green economy and encourage everyone to strive for more energy efficient enhancements, we are offering low interest rates on home renovations, retrofitting and transport initiatives.

Members can borrow up to €80,000 for Home Initiatives and up to €60,000 for Transport Initiatives. The rates are among the most competitive in the market and are from low as 4.79% (4.9% APR).

Charitable Donations, Clubs & Other Sponsorship

In the financial year ending the 30.09.2023 KCU donated approximately €35,000 to local charities, clubs, organisations, schools and educational initiatives.

KCU is very supportive of local charities. Many of our staff have taken part in local fundraising initiatives such as runs, walks, fashion shows etc.

KCU is proactive in making our branches available for use by local charities such as the Hospice Coffee morning, Daffodil Day. KCU has supported events such as Down Syndrome Pancake morning, Alzheimers National Denim Day, Pink Ribbon Breast Cancer Awareness.

KCU takes our stance in the community very seriously and this is just one of the many ways we give back to our members and the local community, to ensure everyone benefits.

KCU has sponsored GAA clubs, soccer clubs, Rowing, Athletics, Basketball and Rugby.

We aim to have a presence at as many social and community events as possible either by being at the event or providing sponsorship.

Local business support

CU Easypay - business relationship with businesses and service providers across our common bond.

CU Easypay - makes shopping local and supporting local easier. CU Easypay is an initiative whereby if a member is wishing to purchase or avail of the services of a particular business whom we are a business partner of, a member can apply for a loan to cover the cost of the required service or purchase. There are currently 34 businesses part of the scheme with more ready to come on board. At the end of every month we advertise the businesses on our social media platforms, as a thank you for displaying our leaflets and referring business.

Educational Promotion & Initiatives

As part of our involvement with the Killarney Coffee Cup project, phase 2 is an educational part benefitting both primary and secondary school students funded by KCU.

5th class students and TY students will be involved in environmental projects which will give them a greater insight into how they can help with their carbon footprint and play their part in the protection of the Killarney biosphere.

Surplus returned to members

Part of Credit Union Difference is that the surplus is re invested back into our member services.

Unlike other financial institutions and as a not for profit financial co-operative, we use any surpluses to improve the services we offer to our members.

Lower cost credit

Our interest rates are fair and ethical and each loan application is judged on their ability to repay the loan

Vulnerable members are encouraged to avoid money lenders. KCU regularly undertakes research into the various rates and products in the market to ensure we are competitive.

Member Savings

No charges or fees on savings and no negative interest charged.

KCU offers a safe and secure place for members savings. Credit Unions in the Republic of Ireland are covered by the Deposit Protection Scheme which is administered by the Central Bank of Ireland. This provides protection on an account up to €100,000. Members shares are also covered by ILCU Savings Protection Scheme.

Community Loans

KCU currently has a Community loan product on offer. In the last year we paid out 1 loan of €74,900. In the coming months we will be relaunching our community loan offering in line with work being done with ILCU and internal enhancements being made to the product. The rates for this product will be 0-2 Yrs 6.5% (Min Loan €2,000), 2-5 Yrs 6% (Min Loan €5,000) and 5-15 Yrs 5.5% (Min Loan €20,000).

Improvements to the product and communication with clubs and organisations will bring the knowledge of the community loan product out into the community. Based on sponsorships and relationships with various clubs this might make KCU more attractive for community loan borrowings.

Location

Our branches are located in the centre of Killarney, Kenmare and Cahersiveen providing an accessible physical presence for members. As a prominent business in the centre of the towns we play an important role in the functioning of the community.

We have a very active presence on our social media platforms Twitter, Facebook & Instagram.

Even though we hold our online offerings in a high regard we believe it is very important to maintain our physical presence in the community. Our common bond covers an extensive area in South & East Kerry.

We are proud to have branches in particular in towns where other financial institutions have closed their doors or reduced services.

Social Media/Media Activity

Social media became an integral part of our business and growth in particular during covid 19 lock downs. We endeavoured at the time to become bigger, increase our followings and provide content that was attractive and relevant.

Our social media platforms are huge part of our every day business. We share out relevant information, product and services advertisements and also sponsorship, community events and news.

Involvement in Youth Activities

Schools Quiz

We participate annually in the Credit Unions Schools Quiz competition. We host in excess of 70 teams from over 30 schools in Killarney. This enables us to build a rapport with the local schools.

Sponsorship donations relating to Youth

We sponsor various groups, clubs and organisations each year with young people benefitting from the sponsorship.

We sponsor Football, hurling, basketball, soccer, camogie clubs, musical societies and bands, athletics, Park runs and rowing.

Member Open Day

Killarney holds a youth orientated Open Day annually to encourage youth membership and engagement.

Members, Clubs and Families are invited to come in and sign up the young

Killarney Coffee Cup Project Schools Initiative

The Killarney Coffee Cup Project was launched in July 2023. This Project aims to eliminate single use coffee cups usage in Killarney and surrounds. KCU became involved in the project as an associate sponsor and member of the group. As part of the project it was decided that phase two of the project should be Education based funded by KCU.

5th class students from 11 National schools were invited to an Education experience in Killarney National Park where they were educated on the KCCP and Killarney Biosphere. They were also shown how to sow acorns and each class are now part of an acorn replanting project. TY Students from 3 Secondary schools were also brought on an Education experience and are currently working on media, art and science based projects motivated by the KCCP.

Contribution of volunteers

Killarney Credit Union has 16 volunteers. 11 volunteers on the Board of Directors and 3 on the Board Oversight Committee and 2 on the Credit Committee. These volunteers bring varying skillsets and expertise to the decision making at KCU.

Credit unions wouldn't exist without their volunteers. Our volunteers have given hours of their time at no charge working for the betterment of our credit union.

Training for volunteers

Killarney Credit Union provides and gives access to regular training and courses to volunteers.

Killarney Credit Union is committed to supporting our volunteers by providing adequate and ppropriate training. By doing this we not only invest in the individual, but we see it as an investment for the entire local community.

Local survey & awards

Killarney Credit Union undertook a survey of our members in June 2023.

These survey results offer invaluable insight into the sentiment of our membership towards the credit union. These results will contribute to the direction of the marketing plan for this coming financial year.

Complaint resolution

We have very few complaints and any complaints are dealt with swiftly and professionally.

Overall members are highly satisfied with the services offered by KCU. In our survey undertaken in May 2022 97% of members said they were likely to recommend KCU to family and friends.

Other examples

We are at the heart of the community and we respond to our communities needs especially in times of crisis.

During the Covid pandemic we remained open for business and available to serve our members. Any members unable to come to our branches were encouraged to use our online services, email and also telephone services.

Loans to support green initiatives

Green Loan - In October 2022 KCU launched our Green Loan offering. This product was launched to provide accessible means for our members to access finance for green initiatives. These products are currently one of the most competitive loan offerings of their type on the market with rates from as little as 4.79%(4.9% APR).

In the last financial year these Green Loan products paid out €3,297,940 in 117 loans.

KCU green loan product offerings cater for Transport and Home Initiatives. They provide easy access to affordable credit for green initiatives.

CU green project involvement

Since April 2023 Killarney Credit Union has been involved in the Killarney Coffee Cup Project. The KCCP aims to eliminate the use of single use coffee cups in Killarney and surrounds. This initiative is now being undertaken by more than 50 businesses. It has already had a great impact in waste reduction in Killarney and the National Park.

KCU were delighted to be involved in this project as part of our commitment to a green community and our greater strategic plan implementation.

Creation of a Environmental & Sustainability Brief

As part of our strategic plan implementation we developed an action plan for KCU for its Waste, Energy and Circular Economy. This plan incorporates internal procedures and practices and also member awareness programs, community education and provision of suitable services. The beginning of this brief involved framing where we were at and where we wanted to go starting off with 13 point action plan. Based on the completion of phase 1 we are now ready to begin planning and mapping what phase 2 of action will look like.

KCU was operating as a Linear Economy and our goal is to progress to a more sustainable circular economy. We are currently progressing through the the next phase of our action plan.

Local CU Initiatives

We encourage our members at every opportunity where possible to sign up for online banking and go paper free by signing up for eStatements and AGM notices.

Note on member receipts